European equities: Are ETFs as simple as they appear?

March 2011. In this paper, we examine what an exchange-traded fund (ETF) is and how ETFs are structured. We look at the costs of investing in ETFs, including both total expense ratios (TERs) and other transactional and hidden costs, and then examine the issue of performance drift, and its drivers. We also examine other less obvious issues for ETF investors, such as counterparty risk. (Leer más)

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